Friday, November 2, 2012

20121102 0922 Malaysia Corporate Related News.

SapuraKencana gets RM836m new jobs
SapuraKencana Petroleum has bagged two new jobs totaling RM835.8m. One of the jobs, worth RM700m, is from Petronas Carigali SB. The company said its wholly-owned subsidiary, Allied Marine & Equipment SB, received a letter of award from Petronas Carigali for underwater services, including inspection, repair and maintenance services utilising specialized vessels, equipment and personnel covering Petronas Carigali’s offshore oil and gas fields in Malaysia. (Financial Daily)-

UEM Group bids for infrastructure privatisation in Turkey
UEM Group has emerged as part of a consortium bidding for the privatisation of two bridges and seven motorways across Turkey. The other participants in the consortium are Turkish industrial conglomerate Koc Holdings and Gozde Girisim Sermayesi Yatirim Ortakligi, a Turkish financial services company. According to a Reuters report, Gozde has a 20% stake in a JV, with Koc and UEM each having a 40% stake. (Financial Daily)

Aeon Co buys Carrefour operations in Malaysia on its own, to rebrand outlets
Japan’s largest retailer Aeon Co Ltd will swallow Carrefour’s Malaysian operations on its own without the involvement of its locally-listed entities Aeon Co (M) and Aeon Credit Service (M). The deal thus has no financial impact on Aeon Co’s Malaysian subsidiaries as they will be run separately from the newly-acquired Carrefour Malaysia, said Aeon Co CEO for Asean Nagahisa Oyama, but it is expected to produce synergies in aspects such as IT, distribution network and product development. (StarBiz)

CB Industry buys firm in Indonesia
CB Industrial Product Holding has agreed to buy a 94% stake in PT Kurun Sumber Rezeki for RM7.38m cash to expand its plantation business. “The acquisition provides an opportunity for the group to further expand its plantation business. The additional landbank pursuant to the acquisition would enable the group to develop its existing plantation business into a sizeable plantation segment and provide further sustainable long-term earnings,” said the company. (BT)

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